Australia’s central bank cut interest rates to a fresh record low as it moves to counter the emergence of disinflation that’s swept the developed world and limit currency gains that could complicate an economic transition.

The U.K. would generate less economic growth and have a drop in investment if voters decide to leave the European Union in the June referendum, according to BlackRock Inc., the world’s largest money manager.

Central bankers aren’t usually the ones who fight wars. But the global economy is a dangerous place, full of threats to prosperity. That’s given rise to the idea that there’s a tussle for competitive advantage going on, with each country brandishing its currency as a weapon.

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